Greenfield Savings Bank Takes Position in Synchrony Financial $SYF

Key Points

• Greenfield Savings Bank has acquired a new position in Synchrony Financial, purchasing 4,507 shares valued at approximately $301,000 in the second quarter.
• Despite a quarterly revenue drop of 1.8% year-over-year, Synchrony Financial reported an earnings per share (EPS) of $2.50, significantly beating analyst estimates.
• Synchrony Financial's recent dividend of $0.30 per share reflects an annual yield of 1.6%, with a payout ratio standing at 14.56%.

Greenfield Savings Bank acquired a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,507 shares of the financial services provider's stock, valued at approximately $301,000.

Several other large investors have also modified their holdings of SYF. Nuveen LLC acquired a new stake in Synchrony Financial during the 1st quarter worth about $175,294,000. Sachem Head Capital Management LP purchased a new position in shares of Synchrony Financial in the fourth quarter worth approximately $142,838,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Synchrony Financial by 755.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock valued at $115,408,000 after acquiring an additional 1,925,217 shares during the period. Assetmark Inc. lifted its position in shares of Synchrony Financial by 129.5% in the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider's stock valued at $161,528,000 after acquiring an additional 1,721,891 shares in the last quarter. Finally, Khrom Capital Management LLC acquired a new position in Synchrony Financial in the 1st quarter worth approximately $73,699,000. 96.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares in the company, valued at $4,801,160. This represents a 11.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,494 shares of company stock worth $1,376,450 over the last ninety days. Company insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SYF shares. Royal Bank Of Canada boosted their target price on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley raised their price target on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus target price of $73.79.

Synchrony Financial Stock Up 2.4%

Synchrony Financial stock traded up $1.76 during mid-day trading on Thursday, hitting $76.58. 2,541,786 shares of the company's stock were exchanged, compared to its average volume of 3,939,612. The stock has a market cap of $28.49 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.75 and a beta of 1.49. The stock has a 50 day moving average of $72.52 and a two-hundred day moving average of $61.92. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business earned $1.55 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's dividend payout ratio (DPR) is 14.56%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.